Christian Cook, a director at Ingram Micro Holding Corp (NASDAQ:INGM), has recently acquired a substantial amount of the company's common stock. According to the latest SEC filing, Cook purchased 46,000 shares on October 25 at a price of $22.00 per share, totaling approximately $1.01 million. This transaction brings Cook's total direct ownership to 46,000 shares. Such insider activity is often closely monitored by investors as it can signal confidence in the company's future prospects.
InvestingPro Insights
Christian Cook's recent $1.01 million investment in Ingram Micro Holding Corp (NASDAQ:INGM) aligns with several key insights from InvestingPro. The company's stock generally trades with low price volatility, which may have factored into Cook's decision to make such a substantial purchase. This characteristic could be appealing to investors seeking stability in their portfolio.
InvestingPro data reveals that Ingram Micro has a P/E ratio of 15.0, suggesting a relatively modest valuation compared to some tech sector peers. Additionally, the company's price-to-book ratio stands at 1.63, which may indicate that the stock is trading at a reasonable level relative to its book value.
An InvestingPro Tip highlights that Ingram Micro is a prominent player in the Electronic Equipment, Instruments & Components industry. This position could provide the company with competitive advantages and market influence, potentially supporting Cook's bullish stance.
It's worth noting that while the company is profitable over the last twelve months, it does not pay a dividend to shareholders. This could suggest that Ingram Micro is reinvesting its profits for growth, which may align with Cook's long-term outlook on the company's prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 6 additional tips that could provide further context to Cook's insider purchase and the company's overall financial health.
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